10 Characteristics of Successful Entrepreneurs

By Aya Chang

 Nalukai 2018 campers sit in a circle with executive coach Warren Doi for a fireside chat. Photo by Aaron Schorn.

Nalukai 2018 campers sit in a circle with executive coach Warren Doi for a fireside chat. Photo by Aaron Schorn.

Executive coach Warren Doi, with over fifteen years of experience, delivered a speech to the Nalukai 2018 cohort last night about the ten characteristics of successful entrepreneurs.  This is what entrepreneurship means to us.

1. Passion

Successful entrepreneurs are passionate.  Entrepreneurship is a grind, and people who are not passionate about their work should move on.

2. Opportunity-Seeking

Successful entrepreneurs are constantly seeking opportunities: problems that could be more adequately addressed.

3. Vision

In any business, it is important to have a vision and a mission statement.  This mission statement will address some sort of need.  This will align your employees and get customers to support your business.

4. Embrace Uncertainty

It is impossible to know all of the right answers when it comes to formulating and implementing a business model.  If it was, capitalism would not exist.  Successful entrepreneurs are leaders that make decisions based on the information they do have.

5. Continuous Improvement

The best entrepreneurs are never satisfied.  They are constantly searching for ways to improve their business and better serve their audience.

6. Identifying risk

Entrepreneurs make calculated decisions based on their knowledge and previous experience, and they are always aware of the risk involved.

7. Leadership

Entrepreneurs are leaders who can rally support for their business’ mission and manage their employees.

8. Perseverance

Success comes only through perseverance.  Especially in the beginning stages of building a business, there will be challenges that seem insurmountable.  It is essential to always get up and try again.

9. Self Awareness

Successful entrepreneurs know their strengths and weaknesses and how their abilities complement the abilities of others. They can admit to themselves when they don’t know how to do something, and they know how to improve.

 

 10.  Can-do Attitude

Successful entrepreneurs can rise to any challenge and inspire others to believe that they can do the same.

David Clarke